FT.com / Companies / Financial Services – UK hedge funds to launch onshore vehicles

Several of London’s largest hedge funds are poised to launch onshore funds in order to trump strict new regulations expected from the European Union.

Cheyne Capital, the $6bn (£3.6bn) hedge fund manager, is set to become the latest high-profile London name to launch a so-called Ucits III fund, people told the Financial Times.

Man Group, which with $43.3bn in assets under management is Europe’s largest hedge fund operation, is to announce the launch of a similar fund — its second — on Monday.

Regulation works.

And brings tax revenue back too.

Funny that.

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One Response

mad foetus says:

September 11 2009 at 10:21 am

Richard,

The EU regulations are stuffed – over 900 amendments have been proposed by the sponsors to a 30 page document.

The real story here is that hedge fund managers are launching UCITS compliant schemes – in other words, they are marketing directly to the retail punter. Schemes aimed at institutions and HNWI will remain offshore.